Recognising the financial strain multiple births place on families, government will be providing financial assistance to these parents until the children reach age five.
In announcing the Multiple Births Cash Grant, which will be administered through the Social Empowerment Agency, Minister of Finance Ryan Straughn said it would go into effect from April 1. Families with twins will receive $300 monthly and those with triplets or more will get $600.
He was delivering the Budgetary Proposals and Financial Statement in the House of Assembly yesterday and also outlined terms of the previously announced Barbados Republic Child Wealth Fund, which would provide a one-time birthright investment to be placed in a trust for each child born on or after November 30, 2021.
“A universal birthright creates a baseline asset that cannot be taken away by bad luck or lack of opportunity,” Straughn said while presenting the proposal.
The fund is intended to ensure that every Barbadian child begins life with a financial asset that could support future opportunities.
Straughn said the initiative reflected the Barbados Labour Party’s commitment to reducing inequality while maintaining national unity.
“This programme is a national standard to which we must aspire as a republic, where every Bajan child deserves a chance to strive,” he said.
An estimated $52.1 million has been set aside to cover children born between November 30, 2021 and the end of the current financial year. (AM)
